When going to college for a single year costs more than buying three new Honda CRVs.

I'm David Brancaccio, first blocked by courts on more sweeping plans to forgive student debt.

The Biden administration has been working on more limited versions.

Today in Wisconsin, President Biden will unveil the latest approach to student loan forgiveness.

Marketplace's Nancy Marshall Genser has details.

The White House says if this latest plan is finalized as proposed,

the administration will have provided debt relief to more than 30 million student loan

borrowers through the new program plus other actions it's already taken. The new plan

would cancel student debt for borrowers in financial hardship, those who've been paying back their student loans

for 20 years or more, people who enrolled in low value programs that left them without good job

prospects, and borrowers who are eligible for forgiveness but haven't applied.

This new proposal comes less than a year after the Supreme Court struck down the administration's

original student debt relief plan.

The White House is basing this latest plan on a

different law that gives the education secretary some powers to forgive student

debt. The administration says loan forgiveness could start this fall.

That would be just in time for the presidential election.

I'm Nancy Marshall Genser for Marketplace.

College tuition, plus room and board and other related expenses will someday cost a

hundred thousand dollars a year at one university that someday is upon us

the New York Times is reporting that the cost of going to Vanderbilt University in Nashville

will get very close to $100,000 for some incoming students this fall.

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